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BEIJING, Aug. 29 (Xinhua) -- Industrial enterprises in 22 Chinese provinces, regions and municipalities generated 1.11 trillion yuan (163 billion U.S. dollars) of profit in the first seven months, down 17.3 percent from the same period last year, according to the latest official figures.     The decline is 3.8 percentage points lower than that in the first six months, the National Bureau of Statistics (NBS) said in a statement Friday.     The revenues gathered by the industrial companies' core businesses reached 21.4 trillion yuan in the first seven months, up 0.9 percent from last year. The growth rate is 0.5 percentage points higher than that in the first six months.     Of the 39 industrial sectors, 14 achieved a rebound in profit growth, nine recorded a slow-down in profit declines and four turned slumping profit to rebounding profit.     The 22 regions refer to China's provinces, regions and municipalities minus Beijing, Inner Mongolia Autonomous Region, Hunan, Guangdong, Anhui, Hainan, Chongqing, Yunnan and Tibet Autonomous Region.     The NBS used to publicize national industrial profit every two months, but began to issue the information monthly to improve monitoring frequency on economy this year. Only 22 provinces, regions or municipalities now provide monthly industrial profit data.

BEIJING, Aug. 5 (Xinhua) -- China vowed to deepen its financial system reform and promote more efficient financial intermediation in support of domestic demand, according to a fact sheet released here on Wednesday. To meet the commitment, China would promote interest rate liberalization and consumer finance, said the economic track joint fact sheet of the first U.S.-China Strategic and Economic Dialogue (S&ED).     It said China would accelerate the allocation of QFII quotas to billion and continue to allow foreign-invested banks incorporated in China that meet relevant prudential requirements to enjoy the same rights as domestic banks with regard to underwriting bonds in the inter-bank market.     China would gradually increase the number of qualified joint-venture securities companies that can participate in A-share brokerage, proprietary trading and investment advisory services subject to the condition of meeting relevant laws and regulations.     The country would also support qualified overseas companies to list on Chinese stock exchanges through issuing shares or depository receipts and continuously support qualified Chinese companies to be listed abroad, including in the United States, said the fact sheet.     From the U.S. side, the country would pursue comprehensive reform of financial regulation and supervision to create a more stable financial system and to help prevent and contain potential future crises.     Regulation and supervision would be strengthened to ensure that all financial firms that pose a significant risk to the financial system will be well regulated, major financial markets will be strong enough to withstand system-wide stress and the failure of large institutions, and the government has the tools it needs to respond rapidly and effectively when problems arise, the fact sheet said.     The United States pledged to continue to have strong oversight of the Government Sponsored Enterprises (GSEs). Through Congressional action, the country remained committed to ensuring that the GSEs were able to meet their financial obligations, it said.     The country was committed to undertaking a process of exploring the future of the GSEs, including through seeking public input, and the U.S. government resolved to report to Congress and the public by S&ED II.     In the joint fact sheet, China and the United States pledged continued close communication and coordination to promote financial stability and would work together to expedite the financial sector reform, to improve financial regulation and supervision, and to promote greater financial market transparency, so as to make their financial sectors more robust.     "We recognize the importance of ensuring sound regulation in our own countries and globally," said the fact sheet.     The two countries were undertaking IMF Financial System Assessment Programs (FSAPs) and would complete them in a timely manner,it said.     Both countries would continue to promote convergence towards a single set of high quality global accounting standards and would continue discussions on financial reporting matters.     "The United States and China welcome continued dialogue between the bilateral competent authorities on the oversight of accounting firms providing audit services for public companies in the two countries based on mutual respect for sovereignty and laws," it said.     The two countries would also conduct technical exchanges on the development of private pensions, and would share experiences and strengthen cooperation with regard to improvement of insurance regulation.     The first S&ED was held in Washington, D.C from July 27 to 28. The mechanism was jointly launched by Chinese President Hu Jintao and US President Obama during their meeting in April in London as a way to show elevation of the importance of China-U.S. cooperation under the new historical circumstances.  

BEIJING, Aug. 17 (Xinhua) -- China's top legislator Wu Bangguo met here Monday with Speaker Luka Bebic of the Croatian Assembly, vowing to facilitate closer parliamentary exchanges and cooperation between both countries.     "China highly values its relations with Crotia, and regards the country as a reliable good friend and partner in southeast Europe," Wu told Bebic in Beijing. He vowed joint efforts with the country to cement bilateral exchanges in all fields to build better future for both sides. Wu, chairman of the Standing Committee of the National People's Congress (NPC), hailed the progress of bilateral ties since the forging of diplomatic ties 17 years ago, citing frequent high-level visits, remarkable trade cooperation and increasing exchanges in cultural, technological and educational areas. Wu Bangguo (R), chairman of the Standing Committee of the National People's Congress, China's top legislature, meets with Croatian Parliament Speaker Luka Bebic in Beijing, capital of China, Aug. 17, 2009.    "The parliamentary cooperation between both sides had contributed to the development of an all-round cooperative partnership," Wu said, adding the Chinese NPC is ready to deepen exchanges between special committees and working groups of the two parliaments.     In response, Bebic told Wu the Croatian Assembly would like to cooperate closely with the Chinese NPC for greater progress of bilateral all-round cooperative partnership. He expected closer cooperation with China in the areas of trade, tourism and infrastructure construction.     Calling China a great friend of Croatia, Bebic said his country believed China had made great contribution to world peace and development by dealing with the global economic downturn in an active way, and maintaining relatively fast economic growth.     At Wu's invitation, Bebic arrived in Beijing on Sunday for a week-long tour to China.

BEIJING, July 31 -- China can expect to be a major target of rising trade protectionism - particularly from the United States and India - as the world struggles to recover from the global financial crisis, the Ministry of Commerce (MOFCOM) said Thursday.    The crisis has pushed trade protectionist cases to a historical high.     "The US is abusing trade protectionist tools to help its own industries tide over the economic slowdown. The loss for Chinese businesses is huge," said Zhou Xiaoyan, deputy director of the China Bureau of Fair Trade for Imports & Exports.     As a consequence, China will have an even harder time than it does now, encountering anti-dumping, anti-subsidy and special protection cases, officials said.     From last September to this June, the main World Trade Organization members, including the US and European nations, launched 77 cases worth .8 billion against China, increasing the number by 112 percent from a year earlier.     Zhou said, moreover, that due to the sharp competitiveness of Chinese products and to the advantage it has of cheap labor costs, sufficient funds and high-quality technology, the country will be targeted for some time.     The fair trade bureau, which is under MOFCOM, is responsible for dealing with trade protectionist cases.     Cases centering on green barriers, such as a carbon tariff measure that the US might launch against developing nations to protect its businesses, will be another hot trend.     China has especially been facing trade protectionist measures related to labor-intensive categories.     The US and India have been among the most aggressive in the rising wave of protectionism, officials said.     In April, for example, the US launched an anti-dumping and anti-subsidy investigation of oil-well steel tubing worth .2 billion, one of the largest ever for China.     And also in April, the US launched a case against Chinese tire makers valued at about .2 billion, also the largest such case for China.     The tire case, if approved by President Barack Obama in the fall, could spark a series of such cases by other nations.     "The US has been a leader in launching measures against China," said Wang Rongjun, a professor at the Institute of American Studies of the Chinese Academy of Social Sciences.     "The US," Wang said, "expects to transfer part of its economic slowdown to China, which is believed to be the quickest to recover."     China and the US are each other's second-largest trade partner. The two nations have stressed since late 2008 that they have been fighting trade protectionism, including at the China-US Strategic and Economic Dialogue held in Washington this week.     And in the case of India, it now has the most cases pending against China - from last September to June, it accounted for about 40 percent of the total. The cases cover a wide range of products, including textile, steel and chemicals.     "As newly emerging nations are being brought directly into competing against China, the upward trend will continue," Zhou said.     Despite falling exports, China still holds the largest share of labor-intensive products in the American and European markets, which threatens Indian businesses.     "Compared with the US, India is far from reasonable," said Fu Donghui, managing director of the Beijing Allbright Law Firm, which deals with anti-dumping and anti-subsidy cases.     "The Indians find any opportunity to challenge the Chinese. As long as there is any call from an Indian enterprise, the Indian government will launch an investigation, even without research."     The MOFCOM plans to focus on cases involving the US and India. "We expect to find out the reasons behind that growth and learn how to avoid them in the future," Zhou said.     For years, the Chinese government shied away from appealing to the WTO for help in battling trade protectionist measures.     "The government should have actively appealed to the WTO to prevent foreign nations from abusing its rights," Fu said.     China will now use the WTO tools to prevent its businesses from being hurt by foreign counterparts, but, nonetheless, it will be prudent, Zhou said.

CHANGCHUN, Sept. 2 (Xinhua) -- Chinese Vice Premier Li Keqiang Wednesday said the country's old industrial base should coordinate economic growth and industrial restructuring to revitalize regional development.     During an inspection tour in northeastern Jilin Province on Monday and Tuesday, Li urged stepping up innovation, pushing forward industrial restructuring, and improving people's lives, in order to achieve sound economic and social development. Chinese Vice Premier Li Keqiang (L Front) visits Bajiazi Forestry Bureau's shantytowns in Yanbian Korean Autonomous Prefecture, northeast China's Jilin Province, Aug. 31, 2009. Li Keqiang made an inspection tour in Jilin Province from Aug. 31 to Sept. 1.During an inspection of the First Automobile Works, Li encouraged the pioneering auto maker to innovate based on its own technology, in order enliven the enterprise.     Li also visited several other enterprises, including the Jilin Aodong Medicine Industry Group Co., Ltd., a leading pharmaceutical company, and encouraged firms to diversify their product mix to meet various demands and explore new markets. Chinese Vice Premier Li Keqiang (R Front) talks with workers at Changchun First Automobile Works in Changchun, capital of northeast China's Jilin Province, Aug. 31, 2009Li also visited shanty towns in Yanbian city where tens of thousands of forestry workers live. He urged local government to speed up the building of low-income housing and the renovation of the shanty towns, to rehouse low-income workers who deserved better conditions.     China has 1.7 million forestry workers, of whom 960,000 live in shanty towns. Chinese Vice Premier Li Keqiang (R2 Front) visits the Yanji branch of Jilin Aodong Pharmaceutical Industry Group in Yanji, northeast China's Jilin Province, Aug. 31, 2009.China is aiming to provide proper housing for 7.5 million low-income urban households and 2.4 million households of coal mine, reclamation area and forest zone workers living in shanty towns within three years, Premier Wen Jiabao said in March.     The central government has pledged to allocate 49.3 billion yuan (7.25 billion U.S. dollars) from the central budget to finance housing projects in 2009 alone. Chinese Vice Premier Li Keqiang (L) visits Bajiazi Forestry Bureau's shantytowns in Yanbian Korean Autonomous Prefecture, northeast China's Jilin Province, Aug. 31, 2009.